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British Wool to defer producers’ payments till May 2021

  

Though British Wool has guaranteed wool producers that it would continue to take wool from registered producers, their payments would not arrive until May 2021. The UK Wool sector is experiencing significant price reductions due to decreased demand across the world. The British Wool Marketing Board has around 9 million kg of unsold wool stock out of a total 2019/20 clip of 27m kg of wool to sell.

British Wool had earlier applied for a Coronavirus Business Interruption Loan (CBILS) from the government. But the board’s application was turned down as they were considered an ‘arms-length’ body of government.

British Wool has therefore, requested the government to treat it as a private sector business owned by its producers. It also requested the government to set up a strong wool marketing wool that would guarantee that all is wool is collected. It also urged consumers to recognize the value of wool products including the environmental benefits of clothes made from natural fibers and their thermal value.

 
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